I recently retired and was rehired making the same salary (88K) and my retirement check comes monthly at 6K. Can I invest in IRA or Roth IRA or is my income too high? Do I even want to deal with tax issues with these things? My inclination is to just stash the cash for now. What say you fool?

IIRC, you can contribute to a Roth IRA completely if your AGI is underneath 95k, so you definitely qualify for that.

For a traditional IRA, it depends on if a 401(k) or similar is offered by your company as to whether it is tax deductible or not.

Either way, check out IRS Publication 590 for everything you've ever wanted to know about IRAs.

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.

Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.